E Cannabis Central: The MSO Pot Stock Sub-Index Is Bouncing Back

The American Multi-State Operators (MSOs) sub-component of the vertically integrated munKNEE Pure-Play Pot Stock Index has gone up 60% since the beginning of 2021 and +34% since the beginning of February and is up 5% so far in March. This article identifies the winners and losers and the reasons behind their movements.

MSO Pure-Play Pot Stock Index Performance

The criteria for being included in the munKNEE MSO Pure-Play Pot Stock Sub-Index is that the constituents are Multi-State Operators that consistently trade for a minimum of US$1/share and generate 100% of their revenue directly from the sale of cannabis products.

16 of the 21 constituents in the sub-index have advanced so far this week with 7 of them doing so in excess of 5%, as follows, with the reasons why, where prevalent:

  1. IM Cannabis (IMCC): +25.4% to $10.26/share
    • Announced that it had begun trading on the NASDAQ Capital Market under the ticker symbol "IMCC" which is expected to increase access to investment in IMC for retail and institutional investors around the world, improve liquidity for its Common Shares and, in turn, optimize its cost of capital.
  2. Medicine Man (SHWZ): +20.7% to $2.80/share
    • Announced that it had closed its most recent tranche of preferred equity, increasing the total capital raised to date through its private placement offering to $56 million, for a total raised of $71 million in financing in the last 3 months.
    • Announced that it had closed on the asset purchase of five Star Buds dispensaries located in Colorado that it had not already previously acquired. 
  3. Green Thumb (GTBIF): +9.1% to $35.46/share
    •  Announced an exclusive partnership with leading cannabis-infused beverage brand Cann to manufacture and distribute its line of cannabis-infused sparkling beverages beginning in Illinois this spring and then into additional markets including New Jersey, which recently legalized adult-use cannabis sales.
  4. Harvest Health (HRVSF): +7.6% to $4.09/share
  5. Trulieve (TCNNF): +6.8% to $49.50/share
    • Announced the opening of its 81st and 82nd dispensaries nationwide in Clearwater and Tampa.
  6. Ayr Wellness (AYRWF): +6.2% to $33.89/share 
    • Announced the opening of its third Las Vegas location and the third location in Nevada. 
  7. Cresco (CRLBF): +5.8% to $14.96/share
    • Revealed its intention to issue up to $1 billion in new securities in a shelf registration statement filed on Monday.
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